UPS Board of Directors Meets In China
The Board of Directors of UPS (NYSE:UPS) opened its regular quarterly meeting today in China, marking the first time the group has formally met at a site in the increasingly important Asia Pacific Region.
During this week’s visit, the 12-member Board of Directors plans to meet with a number of government officials; visit UPS’s joint venture partners, and tour UPS facilities in Beijing. The Board routinely travels to UPS facilities each year.
UPS recently announced plans to open 20 new representative offices in China by the end of 2003 and in the past month, opened three offices in the eastern cities of Xiamen, Shenzhen and Qingdao. The company has established non-stop package express service between China and the United States and constructed an intra-Asia hub in the Philippines, which in turn connects the region with the world.
More than 40 of the 200-plus countries and territories served by UPS are located in the Asia-Pacific region. UPS export volume in China grew more than 40% during this year’s third quarter compared to the prior year period, and average export volume across the region climbed 15% during the quarter.
UPS is the world’s largest global transportation company, offering the most extensive range of e-commerce and supply chain solutions for the movement of goods, information and funds. Headquartered in Atlanta, Ga., UPS was chosen for the fourth consecutive year as “The World’s Most Admired Company in the Mail, Package and Freight Industry” in a 2002 FORTUNE magazine survey. For more information, visit UPS on the Web at UPS.com.
